Key Financial Concepts Vocab 3

The amount that an insurance company makes a policyholder pay as part of any claim.

• Deductible
• Default
• Differentiated Offering
• Differentiation

Failure to repay a loan.

• Default
• Differentiated Offering
• Differentiation
• Extended Payment Terms

Distinguishing a product or service "different than anything else," attracting customers, generating sales and serving as the foundation for a thriving business.

• Differentiated Offering
• Differentiation
• Extended Payment Terms
• Fiscal Year

The act of making a business different than any competitor.

• Differentiation
• Extended Payment Terms
• Fiscal Year
• Fixed Costs

An option a supplier might grant a company to pay their bills later than they normally would.

• Extended Payment Terms
• Fiscal Year
• Fixed Costs
• Guarantor

The 12 month period a company uses to report financial results. can be the same as a calendar year (January through December), any other 12 month period that makes sense.

• Fiscal Year
• Fixed Costs
• Guarantor
• Individual Retirement Account

Costs that do not vary based on the units sold by enterprise.

• Fixed Costs
• Guarantor
• Individual Retirement Account
• Installment Payment

A credit-worthy individual or business with sufficient liquidity who guarantees to repay a loan in the event that the debtholder can’t make required payment.

• Guarantor
• Individual Retirement Account
• Installment Payment
• Insurance Claim

A special account where individuals can deposit retirement funds that can grow tax-deferred until they withdraw them after they retire.

• Individual Retirement Account
• Installment Payment
• Insurance Claim
• Insurance Policyholder

Debt owed to someone that is paid in monthly payments.

• Installment Payment
• Insurance Claim
• Insurance Policyholder
• Insurance Premium